EPL Reports 4Q Production, Rig Activity in GOM

Energy Partners had three rig operations underway in the fourth quarter 2009 on the Gulf of Mexico (GOM) shelf, including two workovers in the South Timbalier (ST) area and one drill well in the East Cameron (EC) area, the EC 111 #1st. The operations on all three wells, which were completed just prior to or after the end of 2009, were successful and the wells are currently producing. December production resulting from the South Timbalier workover program significantly enhanced fourth quarter 2009 production averages. As a result, the Company expects to be at the upper end or slightly higher than the production guidance given for the fourth quarter 2009 of 12,500 to 13,500 barrels of oil equivalent (boe) per day.

EC 111 #1st Drill Well Results

The Company reported a successful drill well on the GOM shelf, the EC 111 #1st, located in its Western offshore area. The EC 111 #1st, which reached its objective depth of 12,809 feet true vertical depth in late December 2009, has found two pay sands. The well was recently completed and brought on line in the deeper of the two sands, and has a gross current rate of 14 million cubic feet per day and 620 barrels of condensate per day. EPL and Phoenix Exploration Company LP each own a 50% working interest in this well. This well's success sets up a potential well to test additional targets in this fault block, including a deeper Cib Carst sand at approximately 13,500 feet true vertical depth.

 

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